NATIONAL Grid said its efficiency programme in the US was on target to save £122million by March.
In a trading update yesterday, the power network operator said it had seen solid operational and financial performance, with proposed job cuts of 1,200 staff as part of an American restructuring on track.
Investment of £3.6billion in 2011-12 was also on schedule, it said, 65% of which would be construction in the UK, with new-generation connections a significant amount of work: one gigawatt from offshore wind and 1.4GW relating to an interconnector to Norway.
Looking ahead, National Grid, which operates in the UK and US, said its British electricity-transmission and gas-transmission business plans were due to be submitted to Ofgem at the end of the month.
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